Which Rental Term Should You Choose?
If youโre thinking of investing in a student rental, the rental term is very important.
There are two terms. Landlords either go with September 1st to August 31st or the May 1st to the April 30th term. Some landlords prefer the September 1st to August 31st, but we typically recommend the May 1st to the April 30th term.
Hereโs why:
Most students want to lock down their rental prior to the school year ending in April. Many of them go away for the summer and they donโt want to come back to hunt for a rental before school starts.
The other reason itโs a better option is if the months where theyโre gone are at the end of the term, they may skip out on the rent. With the May 1st to April 30th option, the months theyโre gone is at the beginning of the term. So, youโre going to get that rent.
If possible, make your term May 1st to April 30th. Itโs the small details that can save you a lot of grief.
Click here for some important clauses you should have on your lease!
